Tokyo stocks open sharply lower on Middle East conflict, tech selling


Tokyo stocks opened sharply lower Monday, as selling was spurred by fears of global economic instability from the intensifying conflict in the Middle East as well as the weakness of U.S. high-tech issues late last week.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 513.01 points, or 1.59 percent, from Friday to 31,802.98. The broader Topix index was down 26.06 points, or 1.13 percent, at 2,282.69.

On the top-tier Prime Market, decliners were led by machinery, electric appliance and air transportation issues.

At 9 a.m., the U.S. dollar fetched 149.56-57 yen compare...

Kyodo News

Kyodo News